IHTM18001 - Stocks and shares: introduction

Investments which are listed ( IHTM18061) on a recognised stock exchange are very different in nature to those which are unlisted ( IHTM18131), or are traded on an alternative market ( IHTM18331). This section looks at the different types of investment and explains how to deal with them when you are investigating the value of an estate ( IHTM04043), lifetime transfer (IHTM04050), or non-death event ( IHTM04096).

• This section starts with the procedures in dealing with supplementary IHT411 and IHT412 schedule to the IHT400 ( IHTM10021).
• It then goes on to provide more detailed information and guidance on the various types of stocks, shares and investments you might come across, divided into listed, unlisted and alternative market categories.
• The guidance includes all aspects of dealing with Shares and Asset Valuation ( IHTM18141) regarding their consideration of the value of unlisted shares.

The impact of loss on sale of shares relief ( IHTM34001) is explained separately in this manual. Fall in value relief may also affect the values that you apply for lifetime transfers and you can find the instructions at IHTM14621.